Sensex, Nifty Snap Three-day Losing Streak

Indian shares rose sharply on Friday to broke a three-day losing streak after OPEC ended talks in Vienna without a deal on oil production cuts and media reports suggested that Warren Buffett's Berkshire Hathaway Inc plans to pick up a stake in private-sector lender Kotak Mahindra Bank.

A firmer rupee amid positive cues from Asia and Europe also bolstered investor sentiment. The rupee was up 24 paise at 70.66 against the dollar in the afternoon after the Wall Street Journal said the Federal Reserve might adopt a wait-and-see approach on future rate increases.